Vanguard Group Inc. Acquires 49,471 Shares of Novanta Inc. (NASDAQ:NOVT)

Vanguard Group Inc. grew its holdings in shares of Novanta Inc. (NASDAQ:NOVT) by 1.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,815,479 shares of the technology company’s stock after purchasing an additional 49,471 shares during the period. Vanguard Group Inc. owned about 10.64% of Novanta worth $642,565,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Operose Advisors LLC bought a new position in Novanta during the 3rd quarter worth $34,000. First Horizon Advisors Inc. increased its position in shares of Novanta by 67.5% in the fourth quarter. First Horizon Advisors Inc. now owns 211 shares of the technology company’s stock worth $36,000 after purchasing an additional 85 shares during the period. TFO Wealth Partners LLC raised its stake in Novanta by 62,800.0% in the fourth quarter. TFO Wealth Partners LLC now owns 629 shares of the technology company’s stock valued at $106,000 after purchasing an additional 628 shares in the last quarter. Revolve Wealth Partners LLC bought a new stake in Novanta during the fourth quarter worth about $206,000. Finally, OneAscent Financial Services LLC acquired a new stake in Novanta during the fourth quarter worth about $206,000. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Novanta Price Performance

NOVT stock opened at $167.36 on Monday. The company’s 50-day moving average price is $161.17 and its two-hundred day moving average price is $163.38. Novanta Inc. has a 12 month low of $111.20 and a 12 month high of $187.60. The company has a quick ratio of 1.77, a current ratio of 2.83 and a debt-to-equity ratio of 0.75. The firm has a market cap of $6.01 billion, a P/E ratio of 86.72 and a beta of 1.34.

Novanta (NASDAQ:NOVT) last announced its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.57 by $0.17. The business had revenue of $230.92 million during the quarter, compared to the consensus estimate of $227.85 million. Novanta had a net margin of 7.76% and a return on equity of 16.58%. The company’s revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.74 earnings per share. On average, analysts anticipate that Novanta Inc. will post 3.26 earnings per share for the current fiscal year.

Insider Buying and Selling at Novanta

In other news, CEO Matthijs Glastra sold 5,000 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $172.00, for a total value of $860,000.00. Following the completion of the transaction, the chief executive officer now owns 24,572 shares of the company’s stock, valued at $4,226,384. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Novanta news, Director Thomas N. Secor sold 1,000 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $158.60, for a total transaction of $158,600.00. Following the sale, the director now owns 928 shares of the company’s stock, valued at $147,180.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Matthijs Glastra sold 5,000 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $172.00, for a total value of $860,000.00. Following the completion of the transaction, the chief executive officer now owns 24,572 shares of the company’s stock, valued at $4,226,384. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

About Novanta

Novanta Inc, together with its subsidiaries, provides precision medicine and manufacturing, medical solutions, and robotics and automation solutions in the United States and internationally. The company operates through three segments: Precision Medicine and Manufacturing, Medical Solutions, and Robotics and Automation.